Oxford, MidCap Close $20MM Facility with Zafgen
Oxford Finance announced the closing of a $20 million term loan with Zafgen. The funds were provided to Zafgen from both Oxford and MidCap Financial. Proceeds of the loan will be used for working capital growth.
“Oxford is impressed with Zafgen’s novel approach to treating obesity and the results from its clinical trials with its lead product candidate, beloranib,” said Christopher A. Herr, managing director for Oxford Finance. “We are pleased to provide capital to Zafgen to support its continuing growth.”
Zafgen is a biopharmaceutical company dedicated to significantly improving the health and well-being of patients affected by obesity. Beloranib, Zafgen’s lead product candidate, is a twice-weekly subcutaneous injection being developed for the treatment of multiple indications.